Summary:
Gained 0.4% today. FFHL rose 6% on no news. Miners did well as both precious and base metal prices rose. Physical copper stocks are falling again. BKC rose on good earnings. I may rethink my short.
I added more MLKKF and am approaching my 10% of portfolio target. I also sold the last of my TNH. I may buy this one back. Yesterday they reported a 1Q dividend of $1.57, which come to about a 9% yield. Not something to sneeze at, so not sure why I sold. Fundamentally I worry about higher natural gas prices crimping profits but I haven’t really looked at this in depth. Perhaps its the big run up in price, or comparisons to my 10+% yielding shippers like OCNF, SEA and ONAV. But I have excess cash.
Positions:
Long: JEQ JSC AUY SLW NTO NXG HBMFF ALSWF JAGNF FFHL EGLE AOB XSI NTLRF NM NLY MDN.TO DSX ONAV ETEL GREXF MLKKF SEA OCNF
Short: BKC LEN GCI HBI HLS MNI
Options: AUY May 15 call
Cash: 6.4%
Short Pct: 10.3%
Trades: Added MLKKF@5.09; sold TNH@70.00
Read:
Stocks Researched:
Hours spent on market: 0.5
Positions most worried about: FFHL, reporting seems suspicious.
Positions most sanguine about: XSI, good talk with the CEO.
Biggest market worries: economic softness in the US
Thinking about: shorting more. adding XSI, MLKKF.
Outlook ( up-flat-down surety rating: 1-5 reasoning):
US: flat, 2.0;
Tech: ??
Japan: up, 1.0; strong GDP, but weak international markets
China: up, 1.0; price action
Silver: up, 1.0; industrial demand.
Gold: up, 2.0; GFMS study.
Copper: up, 2.0. Declining stocks.
Zinc: ??
Real life: Busy with studies. Presentation this morning went well.
Previous night sleep and exercise: 6.5 hrs; exercise bike Wednesday.
Mood: Good.
